Sunlite Recycling Industries IPO is a book built issue of Rs 30.24 crores. The issue is entirely a fresh issue of 28.8 lakh shares.
Sunlite Recycling Industries IPO opens for subscription on August 12, 2024 and closes on August 14, 2024. The allotment for the Sunlite Recycling Industries IPO is expected to be finalized on Friday, August 16, 2024. Sunlite Recycling Industries IPO will list on NSE SME with tentative listing date fixed as Tuesday, August 20, 2024.
Sunlite Recycling Industries IPO price band is set at ₹100 to ₹105 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹126,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹252,000.
Hem Securities Limited is the book running lead manager of the Sunlite Recycling Industries IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Sunlite Recycling Industries IPO is Hem Finlease.
Refer to Sunlite Recycling Industries IPO RHP for detailed information.
Sunlite Recycling Industries IPO Details
| IPO Date | August 12, 2024 to August 14, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹100 to ₹105 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 2,880,000 shares (aggregating up to ₹30.24 Cr) |
| Fresh Issue | 2,880,000 shares (aggregating up to ₹30.24 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 8,000,000 |
| Share holding post issue | 10,880,000 |
| Market Maker portion | 148,800 shares Hem Finlease |
Sunlite Recycling Industries IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Sunlite Recycling Industries IPO Anchor Investors Details
Sunlite Recycling Industries IPO raises Rs 8.59 crore from anchor investors. Sunlite Recycling Industries IPO Anchor bid date is August 9, 2024. Sunlite Recycling Industries IPO Anchor Investors list
| Bid Date | August 9, 2024 |
| Shares Offered | 818,400 |
| Anchor Portion Size (In Cr.) | 8.59 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 15, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 14, 2024 |
Sunlite Recycling Industries IPO Timeline (Tentative Schedule)
Sunlite Recycling Industries IPO opens on August 12, 2024, and closes on August 14, 2024.
| IPO Open Date | Monday, August 12, 2024 |
| IPO Close Date | Wednesday, August 14, 2024 |
| Basis of Allotment | Friday, August 16, 2024 |
| Initiation of Refunds | Monday, August 19, 2024 |
| Credit of Shares to Demat | Monday, August 19, 2024 |
| Listing Date | Tuesday, August 20, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 14, 2024 |
Sunlite Recycling Industries IPO Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹126,000 |
| Retail (Max) | 1 | 1200 | ₹126,000 |
| HNI (Min) | 2 | 2,400 | ₹252,000 |
| Lot Size Calculator | |||
Sunlite Recycling Industries IPO Promoter Holding
Nitin Kumar Heda, Prahladrai Ramdayal Heda & Khushboo Manishkumar Heda are the company’s promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.53% |
About Sunlite Recycling Industries Limited
Sunlite Recycling Industries Limited was established in 2012 and manufactures copper rods and wires, copper earthing wires, copper earthing strips, copper conductors, copper wire rods etc. by recycling copper scrap for power generation, transmission, distribution and electronics industries.
The company’s product portfolio offers a diversified product range that includes a variety of grades, thicknesses, widths and standards in all types of copper products according to customer specifications.
Sunlite Recycling Industries currently has a registered office and manufacturing facility in Kheda, Gujarat, with a total area of approximately 12,152 square metres and over 20 machines for manufacturing a wide range of copper products.
The company recorded a total revenue from operations of Rs. 85,168.31 lacs and employed 38 people as on March 31, 2024.
Sunlite Recycling Industries Limited Financial Information (Restated)
Sunlite Recycling Industries Limited’s revenue increased by 1.4% and profit after tax (PAT) rose by 58.92% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 6,321.24 | 7,162.56 | 4,802.05 | 3,743.20 |
| Revenue | 116,655.09 | 115,039.91 | 93,791.80 | 39,400.84 |
| Profit After Tax | 890.36 | 560.27 | 426.03 | 252.55 |
| Net Worth | 2,003.90 | 362.08 | 1,158.58 | 622.18 |
| Reserves and Surplus | 1,203.90 | 312.08 | ||
| Total Borrowing | 3,491.74 | 4,646.82 | 2,532.38 | 1,711.39 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Sunlite Recycling Industries IPO is Rs 114.24 Cr.
| KPI | Values |
|---|---|
| ROE | 75.26% |
| ROCE | 29.49% |
| Debt/Equity | 1.74 |
| RoNW | 44.43% |
| P/BV | 2.41 |
| PAT Margin (%) | 0.76 |
Check Sunlite Recycling Industries IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.13 | 8.18 |
| P/E (x) | 9.43 | 12.83 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.
Objects of the Issue (Sunlite Recycling Industries IPO Objectives)
The company intends to utilize the proceeds of the Issue to meet the following objectives:
- Funding of capital expenditure towards the installation of new Plant & Machinery.
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company.
- General Corporate Purpose.
Sunlite Recycling Industries IPO Review (May apply)
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. It marked growth in its top and bottom lines for the reported periods. Based on FY24 earnings, the issue appears relatively fully priced. Considering its scale of operations, investors may park funds for the long term. Read detail review…
Sunlite Recycling Industries IPO Prospectus
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Sunlite Recycling Industries Limited Contact Details
Sunlite Recycling Industries Limited
Survey No. 270A & Plot No. 1,
Survey No. 267, Chhatha Mile,
Dantali, Vaso, Kheda – 387350
Phone: +91-9265111757
Email: cs@sunliteindustries.com
Website: http://www.sunliteindustries.com/
Sunlite Recycling Industries IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com/